Shares of L&T Technology Services (LTTS) surged, trading at Rs. 5365.20, up by 5.05% or 257.85 points from its previous close of Rs. 5107.35 on the BSE. The stock, opening at Rs. 5181.00, reached a high of Rs. 5370.00 and a low of Rs. 5166.45, with 4684 shares changing hands.

The 'A' group stock, with a face value of Rs. 2, had previously touched a 52-week high of Rs. 5990.00 on August 29, 2024, and a low of Rs. 4228.00 on June 4, 2024. In the past week, its high and low stood at Rs. 5370.00 and Rs. 5006.40, respectively. The company’s market cap is currently Rs. 56310.29 crore, with promoters holding 73.69%, while institutions and non-institutions hold 18.08% and 8.23%.

LTTS, along with its wholly-owned subsidiary L&T Technology Services LLC, has signed agreements for the acquisition of 100% shares of Intelliswift Software (India) and Intelliswift Software Inc. in the U.S. The acquisition, valued at up to $110 million, is aimed at strengthening LTTS’s AI and software capabilities in Digital Engineering for global clients. This includes bolstering software development, data and platform engineering, AI-driven automation, and next-generation digital integration services.

This acquisition is anticipated to close by February 28, 2025, subject to customary closing conditions. LTTS, a listed subsidiary of Larsen & Toubro, specializes in Engineering and R&D (ER&D) services.